The crypto market faces a wholesome decline in price this week, with Bitcoin dropping to 2 weeks low near $66000. Altcoins like Etherem looses 7% in a week below $2000 USD, Solana, BNB, XRP, Shib, Doge, Pepe, and many of the previous performers have been dull. Although there is positive institutional participation, the uncertain geopolitical situation has increased market greed.
Coinpedia Markets’ analysis for next week forecasts a neutral-to-bullish week. Bitcoin will trade in a range of $66000 and $72,000, and altcoins that performed positive growth may repeat the cycle.
Here is our list of altcoin watchlist for next week.
Bittensor (TAO) Target: $414.60
Bittensor(TAO)] is among the star performers, with a monthly growth of nearly 80%, reaching from a low of $171 to 375.
Currently trading at $320.62 with -2.29% growth, TAO/USDT in a 4-hour frame shows firm bullish growth. RSI at 48 is neutral buying pressure, but the altcoin price is trading above the Ichimoku cloud, showing a buyer’s confidence.
Moving in an upward channel, the price may retract to a buying opportunity dip between $280 to $305. In the same scenario, followed by correction, the TAO coin is expected to trade in the $380 to $415 zone in the next 2 weeks.
In case of trend invalidation, Bittensor coin prints a strong support at $300 phsycoligal level.
Siren ( SIREN) Target: $4
The newly launched AI-memecoin on BSC, SIREN, has been on the top gainers’ charts for the last week. At press time, SIREN coin is trading at $1.66, with 24h growth if 101% and monthly growth 337%. It is also to note the the previous two trading days, it fell neatly 62% in days, falling to around $0.875.
Despite all the Scrutiny and warnings about a major concentration of circulating supply being held by the team, SIREN coin is a dramatic and clear result of FOMO mixed with ongoing uncertainty.
SIREN/USDT is also seen with balanced long/short derivatives, which can amplify the price further near the horizontal resistance $1.7 range. Holding strong above this level could trigger the rally to the next resistance near $2.06.
In a bearish scenario, a break below $1.50, SIREN could retest the support at $1.20.
Midnight (NIGHT) Target: $0.072015
The Cardano-based coin Midnight (NIGHT) reacted bullish again after the Monument Bank of the UK announced its plan to tokenize ADA and NIGHT tokens. Further, today, the rally was supported by the Australian exchange CoinSpot listing yesterday.
NIGHT coin at the time of writing is trading at $0.05164, up 12.4% in 24 hours and moved 18.67% in in one month. Launched in early March, Midnight coin has gained its place in the Top 50 coins by marketcap of $744.4m USD.
NIGHT/USDT 4-hour chart shows the coins shows the altcoin is gaining back the momentum. Average Directional Index ( ADX) is at 26 and upward direction, indicating that buyers have entered since 26 March. The MACD line is above the signal; there is a sharp shift in momentum for further gains.
The Support for NIGHT now sits at $0.045 and $0.0423, and a resistance pain point at $0.5517, breaking beyond will push the altcoin to the $0.07 zone.
Other Coins on the List are
Pudgy Penguins ( $PENGU)
Now: $0.006546Target: $0.0077
River ( $RIVER)
WikiCat ( $WKC)
Now: $0.0000001104Target: $0.00000018504
Qubic ( $QUBIC)
Now: $0.0000009989Target: $0.00000166719
Osaka Protocol ( $OSAK)
Now: $0.00000004137Target: $0.000000070414
Dusk ( $DUSK)
Now: $0.1104Target: $0.2110
Hachiko ( $HACHI)
Now: $0.000000005016Target: $0.0000000157491
The market is significantly affected by the ongoing war situation, and Bitcoin is falling due to the uncertainty, which is making altcoins fall too. But the above coins are the ones that have not been majorly impacted by the trend.
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